Ameren (NYSE:AEE) Issues FY24 Earnings Guidance

Ameren (NYSE:AEE) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $4.55-4.69 for the period, compared to the consensus EPS estimate of $4.62. Ameren also updated its FY 2024 guidance to 4.550-4.690 EPS.

Ameren Stock Performance

AEE stock traded up $3.64 on Friday, hitting $90.19. The company’s stock had a trading volume of 2,268,955 shares, compared to its average volume of 1,591,171. The firm has a 50 day moving average of $86.35 and a two-hundred day moving average of $79.02. The company has a current ratio of 0.67, a quick ratio of 0.45 and a debt-to-equity ratio of 1.40. The stock has a market cap of $24.05 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 2.89 and a beta of 0.45. Ameren has a 1 year low of $67.03 and a 1 year high of $90.59.

Ameren Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 11th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, December 11th. Ameren’s payout ratio is 63.06%.

Analyst Upgrades and Downgrades

AEE has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Ameren from $86.00 to $87.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. UBS Group initiated coverage on Ameren in a research report on Friday, July 19th. They issued a “buy” rating and a $87.00 target price on the stock. Argus raised Ameren to a “strong-buy” rating in a report on Thursday, September 19th. Mizuho upgraded shares of Ameren from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $82.00 to $89.00 in a research note on Monday, September 16th. Finally, Wells Fargo & Company upped their target price on shares of Ameren from $91.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.80.

Insider Transactions at Ameren

In other news, EVP Chonda J. Nwamu sold 1,610 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $81.94, for a total transaction of $131,923.40. Following the completion of the transaction, the executive vice president now owns 44,432 shares of the company’s stock, valued at approximately $3,640,758.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.42% of the company’s stock.

About Ameren

Ameren Corporation, together with its subsidiaries, operates as a public utility holding company in the United States. The company operates through four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. It engages in the rate-regulated electric generation, transmission, and distribution activities; and rate-regulated natural gas distribution business.